$SanDisk Corp.(SNDK)$ SanDisk

$SanDisk Corp.(SNDK)$ SanDisk Corp. (SNDK) fell 6.81% to $239.47 billion in volume, ranking fourth.

Citigroup analyst Asiya Merchant cut the price target for SanDisk from $2500 to $2100 while maintaining a Buy rating.

On the same day, Jefferies lowered its target from $3000 to $1750.

SanDisk's fiscal 2026 fourth-quarter earnings report showed strong results, but the company's guidance was weak.

Analysts believe the key reason for the stock's decline was not the Q4 performance itself, but revenue guidance that fell short of market expectations.

The adjusted EPS guidance range was roughly in line with consensus, while the gross margin guidance was roughly flat quarter-over-quarter, showing signs of peaking.

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